Gerald Schrager was upset. It was September 1997 and he had just learned that the financial trustee of an ailing, rich, old client had purchased a Mercedes-Benz S-320. "I think you made a terrible mistake," the lawyer recalls telling the trustee who made the purchase. That car would someday be met "with a great deal of skepticism and scrutiny," warned Schrager, a partner at New York's Fischbein Badillo Wagner Harding. Schrager was right. Unfortunately, the scrutiny is on him, too.
August 01, 1999 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Gerald Schrager was upset. It was September 1997 and he had just learned that the financial trustee of an ailing, rich, old, client from Blairstown had purchased a Mercedes-Benz S-320.
Why would the client, 88-year-old Laura Niles, need a $70,000 car while recuperating from a stroke at the home of a New York relative? She certainly wasn’t going out for a spin.
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